2017-06-27-RB-min - Laserfiche WebLink

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YTD earnings are up and we are currently outperforming PRIT. Henry pointed out that Contrafund has played a major role in these returns. Contrafund is up 17.3%for the year, primarily due to excellent business selections on market at the right time. Plus, we have lowered our weight in U.S markets and shifted more towards a stronger developing European market. As of May 31St, Monroe, Golub, and White Oak continue to increase gains in overall performance. Combined, the three firms have turned 13.4m into 16.2m Matthews, Contrafund, and Acadian are still performing extremely well. Matthews is up 18%, Contrafund up 20.8%, and Acadian 23.5%over the past year. Henry attributes these percentage performances in part to a higher Beta portfolio. Kayne Anderson has been added to the portfolio. The one month performance as of May 31" posted a -.4%. No concern due to the fact they are just entering. Board meeting dates for the rest of 2017 were released. They will be held on July 271h,August 24tH September 28th, October 26th, November 28th, and December 28th. Investment managers have been invited to attend. Matthews representatives will attend the July 27th Board meeting. A motion was made, seconded, and unanimously approved to adjourn the meeting at 9:05 am. The next Board Meeting will be held Thursday July 27th at 8:00 AM at Cary Memorial Library. Robert Cunha, Chairman Alan Fields,Appointed Member Absent Carolyn Kosnoff,Ex Officio Member Joseph Foley,Elected Member Frederick Weiss,Appointed Member